Tuesday, December 21, 2010

Have a Great one, lots of good food and good booze

End of month numbers for December will probably be pretty meaningless, since the listings and sales are so low -unless they are bearish in which case I will take my trumpet out :)

We will watch the list/sales in the new year and the price deductions.

I may start my regional scans again like I did late 2008, however that's only if it looks like we are starting the move down.

The one good thing we have in our favour, is that every Marc Carney and his dog is talking about the huge RE-driven debt load. That means the bozos probably WANT to see a RE correction and not try and derail it asap this time, like they did last time.

Was it not ever so that the worst catastrophes grow from the seeds of good intentions. We had a crisis in 2008/9 and the quickes,t easiest thing to do, was re-inflate RE. Hence they did it and now they regret it (though they wont admit it- just wag a finger at the borrowers).

The result is that Canadians, once a conservative bunch, have more debt now than the US. The architects of this calamity-in-making may have had good intentions, however they should also have the decency to admit a little mea culpa into the egg-nog.

See you all on the other side of 2011...